J. Goldman & Co LP Invests $1.35 Million in NOV Inc. $NOV

J. Goldman & Co LP acquired a new stake in NOV Inc. (NYSE:NOV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 72,977 shares of the oil and gas exploration company’s stock, valued at approximately $1,354,000.

Several other hedge funds have also added to or reduced their stakes in the business. Fifth Third Wealth Advisors LLC grew its holdings in NOV by 4.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 12,484 shares of the oil and gas exploration company’s stock worth $235,000 after acquiring an additional 541 shares during the last quarter. Altshuler Shaham Ltd raised its stake in shares of NOV by 36.8% during the first quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 546 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of NOV by 39.9% during the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 552 shares during the period. State of Michigan Retirement System grew its stake in shares of NOV by 0.7% in the first quarter. State of Michigan Retirement System now owns 86,777 shares of the oil and gas exploration company’s stock worth $1,632,000 after purchasing an additional 600 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of NOV by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,384 shares of the oil and gas exploration company’s stock worth $115,000 after purchasing an additional 611 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOV. Barclays lowered their target price on NOV from $21.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, July 31st. Citigroup increased their price target on NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Susquehanna raised their price objective on NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research report on Thursday, July 30th. Morgan Stanley set a $21.00 target price on NOV in a report on Wednesday, July 15th. Finally, Capital One Financial raised shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, NOV presently has a consensus rating of “Hold” and an average price target of $21.31.

Insider Transactions at NOV

In other NOV news, Director David D. Harrison sold 9,594 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $19.21, for a total transaction of $184,300.74. Following the transaction, the director directly owned 126,763 shares in the company, valued at approximately $2,435,117.23. This represents a 7.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.15% of the company’s stock.

NOV Stock Performance

Shares of NOV opened at $19.95 on Wednesday. The company has a current ratio of 2.42, a quick ratio of 1.61 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $19.52 and its two-hundred day simple moving average is $19.68. NOV Inc. has a 12 month low of $12.28 and a 12 month high of $21.67. The stock has a market capitalization of $7.11 billion, a P/E ratio of 76.73 and a beta of 0.92.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.14. NOV had a return on equity of 3.44% and a net margin of 1.10%.The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the company posted $0.29 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, analysts predict that NOV Inc. will post 0.99 EPS for the current year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.36 annualized dividend and a yield of 1.8%. NOV’s payout ratio is 138.46%.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.